HA Writes Off 236 Home Loan Accounts

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HA Writes Off 236 Home Loan Accounts

A total of 236 families nationwide were assisted under the social housing policy that was introduced 18 months ago.

In 2011, a total of 90 families were assisted of which $0.5 million of Government Grant and $0.8 million from Housing Authority provisions were used to completely or partially write-off home loan accounts.

Housing Authority chief executive officer Alipate Naiorosui said, “Initially the criteria for write off required the home owner to have paid over three times the principal loan amount, be unemployed due to advanced age or medical grounds and facing genuine financial difficulty”.

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